Hi all,
I was wondering if anyone is willing to share their standard operating procedures for endowment management. We are in the process of creating/revising current procedures and would be helpful as to what others do.
We are looking for the internal detailed process such as:1. Receive able to spend from accounting2. X department relays that to the fund administrator3. meet with each fund administrator monthly. weekly, quarterly, etc.4. What department verifies the the money is being spent according to the documentation?5. What is financial aids role? they verify what???6. Does advancement make fund administrators sign anything or approve expenditures?7. How often do you send stewardship reports?8. When do you send the student thank you letter notes? with the stewardship reports?9. When or do you inform the donors or where you are at in the endowment process for each endowment? Are updates given such as telephone calls or letters which student is to receive the scholarship months in advance?
Anything you could send is greatly appreciated!Anna SimonsSaint Xavier University